So It Begins: Lehman's Fuld Subpoenaed

Prosecutors have subpoenaed a dozen Lehman Brothers executives,
including CEO Dick Fuld, in connection with three grand jury
probes into the bankruptcy of the storied Wall Street firm.

At a hearing yesterday, famed bankruptcy attorney Harvey Miller
of Weil, Gotshal & Manges, who represents Lehman, said the US
attorney's offices in the Eastern and Southern districts of New
York, and in the district of New Jersey, are leading the grand
jury investigations.

Twelve people have been subpoenaed so far. Although Miller did
not identify the nature of the investigation, sources say the
focus is on whether Lehman executives made false comments about
the health of the firm prior to its collapse.

Worth noting, of course, is that this is just a subpoena at this
point.